TREES Corp (Colorado) (CANN): M&A transaction — Trees Corp acquires GMC LLC dispensary assets for $1.225M cash and 4.49M shares

TREES Corp (Colorado)

Total consideration: $1,225,000 cash plus 4,494,382 common shares at closing.
Deferred payment of $1,500,000 in 18 monthly installments of $83,333.33 beginning Dec 2023.
New 10-year lease at East Hampden Ave, Denver; rent $10,000/month for year 1, then 4.5% annual increases.
Additional $200,000 paid in 30 monthly installments of $6,666.67 from lease commencement.
Lease includes two 5-year renewal options and contingent on marijuana license transfer approval.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

TREES Corp (Colorado) completed an acquisition involving GMC, LLC for $1,225,000 together with an aggregate of 4,494,382 shares of the Company’s common stock (closed 2022-12-19).

Action: acquisition
Counterparty: GMC, LLC
Consideration: $1,225,000 together with an aggregate of 4,494,382 shares of the Company’s common stock
Closing: 2022-12-19

Exact text from the filing

of the assets of GMC, LLC, a Colorado limited liability company (“GMC”). At the closing, the Company delivered to GMC and equity holders thereof an aggregate of cash equal to $1,225,000 together with an aggregate of 4,494,382 shares of the Company’s common stock, par value $0.01 per share (“Common Stock”). An additional $1,500,000 in cash will be paid by the

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TREES Corp (Colorado) filing history →

Source: SEC EDGAR

accession 0001558370-22-018812

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